The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet is a fresh player on the hardware wallet market, promising to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product on the market.